7. If you had a $40,000 payable at the end of 7 years, what amount should your creditor accept in payment immediately if she could earn 12% on her money? 8. Susan is expected to receive an award of $12,000 a year for the next 15 years as a result of her new book. If a 9% rate is applied, should she be willing to sell out her future rights now for $100,000? Explain. Jack and Jill invest in a stock that will pay dividends of $2.00 at the end of year 1: $2.20 at the end of the second year; and $2.40 at the end of the third year. They expect to sell the stock at 33 at the end of year 3. What is the present value of all future benefits if a discount rate of 11% applied? (round to 2 decimal places) 9